Sino-U.S. trade up 10.5% in 2008, slowest pace since China's WTO entry

China-U.S. bilateral trade expanded 10.5 percent last year to 333.74 billion U.S. dollars, the smallest increase since China joined the World Trade Organization seven years ago, official data showed Friday.

The General Administration of Customs said the figure included 252.3 billion U.S. dollars in exports from China, up 8.4 percent, and 81.44 billion dollars in imports from the United States, up 17.4 percent.

China's trade surplus with the United States rose 4.6 percent to 170.86 billion U.S. dollars, accounting for 57.8 percent of China's total trade surplus last year.

Shrinking demand in the United States, caused by the financial crisis, and the stronger yuan were the main factors that curbed Sino-U.S. trade, according to the report.

Of China's exports to the United States, machines and electronics made up 60.6 percent of the total. Such exports rose 6.4 percent. The growth rate was 9.6 percentage points smaller than in 2007.

Of nine major categories of labor-intensive exports, seven declined, including clothing and accessories, plastic products and toys.

Source: Xinhua